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DTN reports that many U.S. producers sold heifers rather than retaining them in 2022 because of high feed costs. Analysts expect continued herd liquidation through at least part of 2023, with beef cow numbers forecast to fall another 3% to 4% in the upcoming USDA cattle inventory report.
Continued heifer sales mean fewer future feeder cattle, which supports feeder prices over the coming year while keeping pressure on feed demand from a smaller herd.
dtnpf.comJan 13, 2023After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
